How much can one spend in retirement without exhausting retirement assets? How long will the assets be needed? The uncertainty of life span complicates the distribution phase of retirement planning. The major risks of retirement are longevity risk and market volatility risk. A balanced portfolio should address both. Investment strategies…
Some in the retirement industry feared President Donald Trump's proposed overhaul of the US tax system would eliminate some or all tax advantages enjoyed by 401(k)s, individual retirement accounts and similar retirement-savings accounts, but that hasn't happened. Gary Cohn, director of the National Economic Council, said tax provisions relating to…
Seventy percent of respondents to a LIMRA and Life Happens survey said they would be more inclined to buy life insurance if medical testing during underwriting were reduced by using publicly available data to evaluate risk factors. BenefitsPro.com
Increases in average life expectancy bring with them the risk of running out of funds late in life. Mark Miller writes that advisers can perform a valuable service by encouraging their clients to think carefully about the financial consequences of longevity, and he lists several topics that should be part…
Federal Reserve Vice Chairman Stanley Fischer still expects two additional interest-rate increases this year. Positive data from China and Europe promise strong global economic growth, he says. Bloomberg (4/21)
The American Council of Life Insurers has submitted to the Labor Department comments that criticize provisions of the agency's proposed fiduciary rule. The rule "limits consumer access to education and information about annuities, the only financial products in the marketplace that guarantee lifetime income," ACLI said. InsuranceNewsNet online (4/18)
Even supporters of the Department of Labor's fiduciary rule have written comment letters calling for revisions. The Labor Department should "modify the scope of its definition of investment advice and certain operational aspects of the rule to protect investors in an efficient and cost-effective way while promoting access to high-quality…
Many defined-benefit pension plans are frustrated by persistently low interest rates and are preparing to move pension liabilities off their balance sheets, and many of them will use annuities to reach that goal, according to a report by Richard McEvoy of Mercer. "Over the next five to 10 years, we…
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